Thursday, August 2, 2012
Pennsylvania Update: The Educational Opportunity Scholarship Act
The Pennsylvania Department of Community and Economic Development, which administers the new program, yesterday released guidelines for businesses that want to donate to approved opportunity scholarship organizations (OSOs).
Businesses authorized to do business in the Keystone state and who are subject to taxes can receive a 70 percent tax credit for contributions of up to $400,000 to approved OSOs. If a business contributes for two years, it can receive a 90 percent tax credit.
If a tax credit application is approved, businesses have 60 days to donate its contribution to an OSO.
Applications for tax credits in fiscal year 2012-13 are due by August 8, 2012.
For more information, read the Business Guidelines for the Opportunity Scholarship Tax Credit Program (PDF).
School Choice Now! will keep you updated on this new program as it prepares to serve students in the 2012-13 school year.
- American Federation for Children | Alliance for School Choice, MSG